Oppenheimer Downgrades JPMorgan Chase & Co. (NYSE:JPM) to Market Perform

JPMorgan Chase & Co. (NYSE:JPM) was downgraded by equities researchers at Oppenheimer from an “outperform” rating to a “market perform” rating in a note issued to investors on Wednesday,Finviz reports.

Other analysts also recently issued reports about the company. Barclays upped their price objective on JPMorgan Chase & Co. from $217.00 to $257.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Morgan Stanley cut shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $220.00 to $224.00 in a research report on Monday, September 30th. Royal Bank of Canada raised their target price on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Daiwa Capital Markets lowered their price target on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. Finally, Baird R W cut JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, JPMorgan Chase & Co. currently has a consensus rating of “Hold” and an average price target of $229.31.

JPMorgan Chase & Co. Trading Down 0.8 %

JPM stock opened at $243.03 on Wednesday. The business’s 50-day moving average is $220.81 and its 200 day moving average is $210.92. JPMorgan Chase & Co. has a 12-month low of $151.92 and a 12-month high of $248.00. The stock has a market cap of $684.21 billion, a price-to-earnings ratio of 13.52, a PEG ratio of 3.56 and a beta of 1.10. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.27.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, beating analysts’ consensus estimates of $4.02 by $0.35. The business had revenue of $43.32 billion during the quarter, compared to analysts’ expectations of $41.43 billion. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The business’s revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the company earned $4.33 earnings per share. On average, sell-side analysts anticipate that JPMorgan Chase & Co. will post 17.62 EPS for the current fiscal year.

Institutional Trading of JPMorgan Chase & Co.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in JPM. Mizuho Securities Co. Ltd. acquired a new position in shares of JPMorgan Chase & Co. during the 3rd quarter valued at $25,000. Catalyst Capital Advisors LLC bought a new stake in JPMorgan Chase & Co. during the third quarter worth $27,000. Fairway Wealth LLC bought a new position in JPMorgan Chase & Co. during the second quarter valued at about $32,000. Anfield Capital Management LLC purchased a new stake in shares of JPMorgan Chase & Co. during the 2nd quarter worth approximately $34,000. Finally, West Financial Advisors LLC purchased a new stake in JPMorgan Chase & Co. in the third quarter worth $37,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

About JPMorgan Chase & Co.

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.